General
Mumbai’s Property Sales Decline By Over 6% Year-On-Year

Year-on-year biannual data of property registrations done in Mumbai shows a 6.39% decline. In 2022, between January and June, a total of 66,760 agreements for sale were registered with the Department of Registration and Stamps. On the other hand, during the first six months of 2023, which is up to June 30, 62,492 agreements for sale were registered.
In June 2023, a total of 10,319 property sale agreements were registered, as per data available from the state government. The previous June, 9,919 agreements for sale were registered in Mumbai.
Brokers, and consultants remain upbeat
Despite the decline in property registrations, real estate consultants and brokerage firms continue to be upbeat. They have been terming the recent sale of properties as a “bull run” of sorts and it being at an all-time high. However, a look at the 2023 property registration data shows a contradicting picture.
“Those who are into marketing and sale of properties will always try to portray a rosy picture of the industry, because their agenda is simple – to push more sales for their company to maintain a growth trajectory,” said an industry player in confidence.
“If the market is too buoyant and the demand as projected by the real estate consultancy firms, why for years is there stagnancy in the property prices?” questioned the same individual.
“Price of a product or service is directly dependent on the interaction between demand and supply. With such a heightened demand, the property prices should have increased month-on-month, but that is not the case despite the inflationary pressures that the Reserve Bank of India’s Governor himself has been categorically pointing out, repeatedly.”
Inflation, increase in home loan interest rates have hit market
Overall, in the recent past, the real estate market has witnessed a few headwinds impacting the sale such as inflationary pressure, increase in home loan interest rates, higher stamp duty rate, layoffs, etc.
At every repo rate or interest rate hike announced by the RBI, it is widely known that the real estate industry stalwarts have been presenting itself as upset and coming up with statements that it will impact property sales. Yet, within a few days, they contradict their own statements by mentioning the sales continue to be robust and at an all-time high.
Maharashtra
Sashil Kodiyeri apologizes after tension over Marathi-Hindi controversy

Maharashtra: In the context of the Mumbai Marathi-Hindi controversy, Shishil Kodia has apologized for his controversial statement. He said that his tweet was misrepresented. I am not against Marathi. I have been living in Mumbai and Maharashtra for the last 30 years. I am a fan of Raj Thackeray. I constantly comment positively on Raj Thackeray’s tweets. I tweeted in my emotions and I made a mistake. This tense and tense atmosphere should end. We need a favorable environment to accept Marathi. So I request you to forgive me for this mistake for Marathi. Earlier, Shishil Kodia had made a controversial statement about Marathi and refused to speak Marathi, due to which MNS workers attacked and pelted stones at Shishil’s company WeWork. After which Shishil has now apologized to X
Maharashtra
Maharashtra Marathi Hindi Controversy: Strict action will be taken against those who take law into their hands: Chief Minister Devendra Fadnavis

Mumbai: Maharashtra Chief Minister Devendra Fadnavis has made it clear on the Hindi-Marathi language dispute that linguistic discrimination and violence cannot be tolerated. If anyone instigates violence in the name of Marathi language or takes the law into his own hands, strict action will be taken against him because it is the government’s responsibility to maintain law and order. He said that in the Mira Road Hindi Marathi violence case, the police have registered a case and taken action.
A committee has been formed in the matter of Marathi and Hindi language. Whatever is better for the students on its recommendation, the government will implement it. No decision has been taken under anyone’s pressure. He said that the recommendation for Hindi language was made during the Maha Vikas Aghadi rule itself, but now these same people are opposing it. The public knows everything.
He said that in this election, BJP has got 51 percent Marathi votes. Violence and discrimination in the name of language cannot be tolerated. Marathi is a source of pride for us, but we do not oppose Hindi. What will happen if a Marathi businessman in another state is asked to speak his language? In Assam, he was asked to speak Assamese. He said that strict action will be taken against those who break the law.
Maharashtra
Case registered for burning copy of Hindi Marathi dispute order

Mumbai: Mumbai Police has registered a case against 200 to 300 activists including Deepak Pawar, Santosh Shinde, Santosh Kharat, Shashi Pawar, Yoginder Salulkar, Santosh Veer for protesting without permission, violating prohibitory orders and Police Act in the case of burning copy of order making Hindi language compulsory. The accused have been booked under Section 189(2), 190,223, Maharashtra Police Act at Azad Maidan Police Station. The case has been registered on the complaint of complainant Santosh Suraj Dhundiram Khot, 32 years.
According to the details, on June 29, between 2 and 3:30 pm, a copy of the government order against making Hindi i.e. third language compulsory in primary education was burnt without permission on BMC Road adjacent to Marathi Patkar Singh and the government order was violated. The accused had not taken any permission for this demonstration and had violated the prohibitory orders, following which a case has been registered against them, confirmed Mumbai Police. The case has been registered after recording the statement of the complainant.
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